Trump's 'America First' pledge will not damage PhosAgro: CEO

Trump's protectionism will not damage our market: PhosAgro CEO

The protectionist agenda of U.S. President Donald Trump is unlikely to hamper the growth prospects of Russian agrichemicals giant PhosAgro, the group's chief executive told CNBC on Monday.

Trump's "America First" pledge prompted concerns regarding the trade relationships between the world's largest economy and other nations. However, when CNBC asked PhosAgro's CEO whether he was fearful about the implementation of U.S. imposed border tariffs, he rejected the notion altogether.

"We know how to live with (such tax duties)… we know how to appraise the markets and so I don't really think that it will damage our supply," Andrey Guryev, chief executive at PhosAgro, told CNBC on Monday.

"For us, the U.S. market is not the major market, we like Europe, we like Russia, we like Latin America, that's where PhosAgro is concentrated and this is a premium market for us," Guryev added.

PhosAgro faced US tax duties amounting to 185%

Given PhosAgro is predominantly an exporting business, Guryev previously described himself as optimistic that a Trump administration could be good for business when speaking with CNBC at the World Economic Forum in January.

Guryev had suggested Trump's ambitions to thaw tensions between the U.S. and Russia could open the door to "a lot of opportunities" for the Moscow-based phosphate producer.

Despite his previously bullish stance, PhosAgro's boss admitted on Monday that his company had faced U.S. tax duties of around 185 percent in 2016 and so the firm would instead continue to focus on other international markets.